P&G HYGIENE Announces Quarterly Results (2QFY21); Net Profit Up 85.5%

Wed, 11 Nov

P&G HYGIENE has announced its results for the quarter ended September 2020. Here is a detailed performance review of the same:

P&G HYGIENE Quarterly Financials

No. of Mths Qtr. Ending		3 Sep-19*	3 Jun-20*	3 Sep-20*	QoQ Change	YoY Change
Net Sales	Rs m	8,521	6,345	10,095	59.1%	18.5%
Other income	Rs m	110	96	96	0.1%	-13.2%
Turnover	Rs m	8,632	6,441	10,190	58.2%	18.1%
Expenses	Rs m	6,700	5,242	6,712	28.0%	0.2%
Gross profit	Rs m	1,822	1,103	3,383	206.7%	85.7%
Depreciation	Rs m	115	132	118	-10.6%	3.1%
Interest	Rs m	4	10	4	-65.4%	0.0%
Profit before tax	Rs m	1,814	1,056	3,357	217.8%	85.1%
Tax	Rs m	445	364	818	124.8%	83.7%
Profit after tax	Rs m	1,368	692	2,539	266.8%	85.5%
Gross profit margin	%	21.4	17.4	33.5
Effective tax rate	%	24.6	34.5	24.4
Net profit margin	%	15.9	10.7	24.9

Year-on-Year Performance:

• The company's operating income during the quarter grew 18.5% on a year-on-year (YoY) basis. The expenses were up by 0.2% YoY during the same period.
• The company's operating profit increased by 85.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 33.5% in 2QFY21 as against 21.4% in 2QFY20.
• Depreciation charges increased by 3.1% and finance costs increased by 0.0% YoY, respectively.
• Other income declined by 13.2% YoY during the quarter.
• Net profit for the quarter increased by 85.5% YoY. Net profit margins during the quarter increased from 15.9% in 2QFY20 to 24.9% in 2QFY21.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 59.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 28.0% QoQ during the same period.
• The company's operating profit increased by 206.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 33.5% in 2QFY21 as against 17.4% in 1QFY20.
• Net profit for the quarter increased by 266.8% QoQ, while net profit margins increased from 10.7% in 1QFY20 to 24.9% in 2QFY21.

To see how P&G HYGIENE has performed over the last eight quarters,please visit here.

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P&G HYGIENE Share Price Performance

Over the last one year, P&G HYGIENE share price has moved down from Rs 11,225.5 to Rs 10,799.0, registering a Loss of Rs 426.5 or around 3.8%.

Meanwhile, the S&P BSE FMCG Index is trading at Rs 11,253.6 (down 0.1%). Over the last one year it has moved down from 12,026.5 to 11,253.6, a loss of 773 points (down 6.4%).

Overall, the S&P BSE SENSEX is up 7.7% over the year.

Current Valuations

At the current price of Rs 10,799.0, the price to earnings (P/E) ratio of P&G HYGIENE stands at 63.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 43.5 times.